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Who cares
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Sponsors
No co-sponsors yet.
History
- Substituted by A7735A
- Ordered to third reading cal.1502
- Committee discharged and committed to rules
- Print number 5695a
- Amend (t) and recommit to insurance
- Referred to insurance
Companion bill
The same bill in the other chamber. A bill becomes law when one version passes both houses and the governor signs it, so either number can carry it.
Relates to extending the effectiveness of a health insurance demonstration program for early retirees
Signed by Governor · Sponsor Joseph Morelle
Full text
The text isn't available here yet. Check nysenate.gov.
Sponsor's memo
BILL NUMBER:S5695A
Title of bill
An act to amend chapter 362 of the laws of 2012, amending the insurance law relating to a health insurance demonstration program for early retirees, in relation to extending the effectiveness of the provisions of such chapter; and to amend the insurance law, in relation to superintendent approval of eligible insurers
Purpose
The purpose of the bill is to extend the Superintendent of Financial Services' authority to approve a demonstration program to provide group health insurance coverage for former employees of a major New York-based employer.
Summary of provisions
This bill would extend, from December 31, 2013 to December 31, 2014, the Superintendent of Financial Services' authority to approve a health insurance demonstration program under which an eligible insurance company would provide health insurance to former employees of a major New York-based employer.
Justification
Today, an increasing number of New Yorkers are losing employer-based health insurance coverage due to the economy. Some of these individuals were promised continued coverage by their employer after retirement.
These former employees lack access to employment-sponsored health insurance coverage, often cannot afford to purchase coverage in the private pay market, and are not eligible for Medicare. Chapter 362 of the Laws of 2012 established a pilot program to meet the needs of this population, at a reasonable price, while still requiring the insurer to meet the solvency requirements, benefit mandates, and other obligations required by state statute and regulation. In addition, providing this program on a "pilot" basis affords the Department of Financial Services the ability to assess the Policy ramifications of this change and the impact on other groups and the community.
Prior legislative history
New bill.
Fiscal implications for state and local governments
None noted.
Effective date
Immediately.
Summaries, headlines and scores are AI-generated from the official bill text. How we score bills. Source: NYS Open Legislation.